VLCC abandoned and ablaze off Sri Lanka

Maritime News Marine Incidents
21

Older vessels has smaller (or no) finance costs as they have been paid off and written down. Thus they can accept lower T/C rates, which makes them easier to fix. (“Fix” as in Broker speak, not mechanically)

BTW: That they burn more fuel is a negative for the Charterer when on T/C terms, but may be balanced out by lower charter costs…

1 Like
22

I would add chartering a tanker intended for storage where fuel burn is minimal is different than one chartered for transport.

3 Likes
23

There may be different opinions as to whether older tankers is easier to fix in the present market:
https://www.rivieramm.com/news-content-hub/news-content-hub/falling-crude-oil-demand-puts-older-tankers-at-risk-60896#:~:text=BIMCO%20notes%20that%20the%20falling,the%20decline%20in%20tanker%20demolition.

24

Divers inspection shows that the New Diamond is now safe:
https://www.maritime-executive.com/article/salvors-complete-dive-inspection-of-fire-damaged-vlcc-new-diamond#:~:text=The%20fire-damaged%20tanker%20New,the%20vessel’s%20integrity%20on%20Sunday.
But Sri Lankan authorities still don’t allow “access to safe heaven” in the only port in the vicinity that is deep enough for her to enter to transshipment cargo and bunker fuel.

This has also become the norm, no matter what has been agreed upon internationally. Maritime Law be damned, we don’t care.

PS> Remember Prentice??

1 Like
25

New Diamond will be towed to the SBM outside Kandla, Gujarat to discharge it’s cargo:

26

The Master of the New Diamond is still held back in Sri Lanka:

27

Change of plan. Now discharging will take place at Khorfakkan, UAE:

28

Sri Lanka try to stop the New Diamond from “leaving their waters” before the payment for fire fighting assistance is in the bank:


The VLCC is now 140 km. from the Sri Lankan coast. Maybe they are mistaking the EEZ for “our waters”?
29

The Master of New Diamond has pleaded guilty, paid a fine and is now free to leave Sri Lanka:


So ends a case of “legal extorsion” for this time. The P&I Club pay the fine and the Master can go home. (But it will embolden the Government in other countries to do the same)
30

The Bew Diamond has reached UAE port where her cargo will be transhipped:


Next (and final) port; Alang.
31

Really impressive that she made it in one piece. The Indian and Sri Lankan Navy/Coast Guard deserve a lot of credit in their response to this emergency, as do the salvors for getting her secured enough to survive the long tow. Truly averted a potentially catastrophic environmental disaster.